Posted Jun 29, 2018, 4:57 AM
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FYHA
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Join Date: Oct 2007
Location: Houston - Wichita, KS
Posts: 3,153
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https://www.bizjournals.com/houston/...northwest.html
Quote:
Spec office building breaks ground in northwest Houston business park
By Jen Para – Web producer, Houston Business Journal
Jun 28, 2018, 8:31am CDT
When complete, Chasewood Crossing will have six office buildings. Currently, two buildings have delivered, and a third broke ground June 28.
BILLY D. TIPPIT ARCHITECTS INC.
A six-story, speculative Class A office building has begun construction about 2 miles northwest of Willowbrook Mall in the Champion Forest area.
Called Chasewood Crossing Three, the 156,000-square-foot structure is at 19350 State Highway 249 and broke ground on June 28, said Jaclynn Johnson Zimowski, a spokesperson for Houston-based Brenda Pennington Commercial Real Estate Inc., which is the broker for the property. The structure will be one of six office buildings slated for the $320 million, 32-acre Chasewood Crossing business park.
Chasewood Crossing Three is expected to be ready for interior build-out in 10 months and ready for tenants in 14 months, Zimowski said. It was designed by Houston-based Billy D. Tippit Architects Inc., and the general contractor is Charlie Graham Construction. Leasing prices are roughly $21 NNN.
Already, the business park has two six-story buildings constructed at 19450 and 19500 State Highway 249. The first was finished in 2008 and is 81 percent occupied, Zimowski said. The second completed in 2012 and is 93 percent occupied. Chasewood Three LP is the developer of the third building, which it is paying for in cash without a loan, Zimowski said.
When complete, the entire 110-acre Chasewood Crossing development is expected to include 32 acres of Class A office buildings — projected to finish in 2022 — several acres of pad sites for restaurants, 29 acres of medical tenants, 15 acres of senior living options and a 20-story, mixed-use condominium project, Zimowski said.
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